Jefferies Maintains Buy, $17 PT on Optimer Pharmaceuticals
Jefferies reiterates its Buy rating and $17 target price on Optimer Pharmaceuticals (NASDAQ: OPTR) as the company preannounces in-line 4Q sales for Dificid.
Jefferies says, "Preannounced Dificid 4Q11 gross sales of $12.2M (~$10.6M net sales) were in-line with our/cons estimates of $10.9M/$11.2M net sales, respectively. With strong initial U.S. launch uptake of Dificid and expected EU launch in ~2Q12 by partner Astellas, triggering ~$65M milestone, we view OPTR current valuation as attractive."
OPTR closed at $11.93 per share on Monday.
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